UPDATE 2-Facebook to clamp down on who can cash in on ads

COLOGNE, Germany (Reuters) - Facebook (FB.O) has tightened its rules on who can make money from advertising on its network, responding to criticism that it is too simple for providers of fake news and sensational headlines to cash in.

The worlds largest social network implemented the new standards with immediate effect to make it clearer which publishers can earn money on Facebook and with what content.

The new standards coincided with an appearance by Chief Operating Officer Sheryl Sandberg in Germany, one of Facebooks toughest critics on hate speech and safeguarding privacy.

Facebook, together with Alphabets (GOOGL.O) Google, accounts for around two fifths of internet advertising, which is forecast by consultancy Zenith to grow by 13 percent to $205 billion this yearovertaking television as the biggest channel for companies to pitch their wares to consumers.

Marketing executives have criticized Facebook for failing to ensure that the digital ads distributed to its more than 2 billion active users reach their intended audience.

It has also drawn criticism from major advertisers for inflating its audience figures and not adequately tracking ads, which were sometimes placed alongside content detrimental to the brands being promoted.

On Wednesday, Facebook said it would seek accreditation from the Media Ratings Council, a U.S. non-profit organization, for audience measurement services.

We take very seriously our responsibility to earn and maintain the trust of people in businesses, Sandberg told dmexco, a major digital marketing gathering in Cologne.

We hear their concerns about safe environments, about standards, about measurement, and this is critical to us, she said. Were working hard to roll things out that give you more control over where your ads run, and more knowledge about where your ads run, before, during and after campaign.

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